REG-TotalEnergies SE United States: TotalEnergies Expands its Natural Gas Production in Texas

TotalEnergies SEAnnouncement

08/04/2024 07:45

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United States: TotalEnergies Expands its Natural Gas Production in Texas

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has agreed to acquire the 20%
interest held by Lewis Energy Group in the Dorado leases operated by EOG
Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas
production capacity in Texas and further strengthening its business
integration in the U.S. LNG value chain.

TotalEnergies increases its natural gas production in the U.S

Located in Texas, the Dorado field will allow TotalEnergies to increase its
net U.S. natural gas production by 50 million cubic feet a day (Mcf/d) in
2024, with the potential for an additional 50 Mcf/d by 2028. The field has an
emission intensity of around 10 kg CO(2)e/boe. In 2023, TotalEnergies’ net
U.S. natural gas output reached around 340 Mcf/d (450 Mcf/d technical
production).

TotalEnergies, largest exporter of U.S. LNG

With over 10 million tons (Mt) in 2023, TotalEnergies was the number one
exporter of U.S. LNG, thanks to its 16.6% stake in the Cameron LNG plant in
Louisiana and several long-term purchasing agreements. The Company’s LNG
export capacity will reach 15 Mt/y by 2030 following the start-up of the first
phase of the Rio Grande LNG project in Texas, currently under construction.

"This acquisition strengthens our production of natural gas in the United
States, contributing to reinforce TotalEnergies' LNG integration with a low
cost and low emission upstream gas feed,” said Nicolas Terraz, President,
Exploration & Production at TotalEnergies. "We are pleased to partner with
EOG Resources, an operator recognized for its strong technical expertise.”

***

TotalEnergies in the United States

TotalEnergies is deploying its integrated energy model in the United States,
where it has been active since 1957. With over 10 Mt of output in 2023,
TotalEnergies is the leading exporter of US LNG, thanks to its 16.6% stake in
the Cameron LNG plant in Louisiana and long-term supply contracts. By 2030,
this capacity will reach 15 Mt/y, following the start-up of the Rio Grande LNG
plant in South Texas.

With upstream gas production assets in Texas, the Company is integrated
throughout the LNG value chain.

The US is a key country for the deployment of TotalEnergies’ Integrated
Power strategy, where its portfolio includes 25 GW of renewables projects,
flexible generation assets, including 1.5 GW of gas-fired power plants in
Texas, and a trading center in Houston.

The Company is also active in upstream oil production in the Gulf of Mexico,
and in refining and petrochemicals, centered on its platform in Port Arthur
(Texas). TotalEnergies is also present in CCS and in low-carbon fuels, such as
biogas and e-NG.

TotalEnergies, the world’s third largest LNG player

TotalEnergies is the world’s third largest LNG player with a global
portfolio of 44 Mt/y in 2023 thanks to its interests in liquefaction plants in
all geographies. The Company benefits from an integrated position across the
LNG value chain, including production, transportation, access to more than 20
Mt/y of regasification capacity in Europe, trading, and LNG bunkering.
TotalEnergies’ ambition is to increase the share of natural gas in its sales
mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane
emissions associated with the gas value chain, and to work with local partners
to promote the transition from coal to natural gas.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

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